While the trustee in charge of managing the Mt. Gox scandal, Nobuaki Kobayashi, is preparing to make it easier for investors to claim their losses, the cryptocurrency exchange’s former CEO, Mark Karpeles, is having to respond to a number of lawsuits.
Mt. Gox has opened an online claim filing system allowing creditors to begin registering claims on the funds they had lost after the Tokyo-based crypto exchange filed for bankruptcy in 2014.
Following a court’s decision in June, a group of creditors of the defunct Mt. Gox cryptocurrency exchange has started preparing to claim for Bitcoin repayments.
The Tokyo District Court announced that the assets belonging to creditors of the now defunct Mt. Gox cryptocurrency exchange will finally be distributed back to their rightful owners.
The Mt Gox effect is still being felt with trustees dumping thousands of BTC on the market and creating artificial depressions in price—much to the chagrin of the cryptocurrency investment community.
Mark Karpeles is on the verge of receiving over 160,000 BTC and Bitcoin Cash, which is currently worth more than $1 billion, following reconciliation of accounts after creditors and exchange users were paid their shares.
Court-appointed trustee Nobuaki Kobayashi has been liquidating some of the remaining cryptocurrencies at the best possible price.
A company registered in the UK has been linked to BTC-e, which, at one point, held 3% of the global BTC exchange volume.
Should this proceed smoothly, it would be the most graceful handling of a crypto-heist to date.
The report estimates up to a catastrophic 80% drop in BTC price should a pump conspiracy be uncovered.
With BTC shooting past the $17,000 mark, this means Mt Gox’s bankruptcy status needs to be re-evaluated.
